- RBI policy failed to contain inflation
- SEBI probing stock market fall
- Allow access or stop BlackBerry Services
RBI policy failed to contain inflation
Former Reserve Bank of India (RBI) deputy governor Savak Soharab Tarapore has said the “soft and calibrated monetary policy measures“ taken by the central bank to tackle inflation have failed, and has called for stern steps to tackle price rise, which has become a national crisis.
“There is no alternative to unequivocal and unswerving policy action to tackle inflation that has now become a major structural problem. The efforts of the RBI in controlling inflation have failed so far”, he said.
SEBI probing stock market fall
Suspecting foul play in the crashing of stock markets over the past few months, the Securities and exchange Board of India (Sebi) is probing at least 25 entities, including brokerage firms, foreign institutional investors (FIIs) and mutual funds.
The initial investigations have revealed the possibility of at least three bear cartels “operating in the stock market and Sebi has decided to seek inputs from the exchanges and various market entities on trading patterns of he affected stocks over past three months, officials close to the matter aid. A bear cartel refers to a group of market manipulators working in concert o hammer down certain stocks, either o buy them at lower prices or at the behest of corporate rivals.
Allow access or stop BlackBerry Services
Hardening its stance against BlackBerry maker Research In Motion Ltd (RIM) for not providing a solution to intercept its enterprise mail services, the government on Sunday said telecom operators will have to stop any such services that cannot be monitored to the satisfaction of law enforcement agencies.
RIM has been saying it cannot provide access to the popular BlackBerry enterprise service as it does not possess any key and the security architecture is the same around the world.
“It is between the licencee (operators) to tell RIM that `look, if you can't do this, you can't use my network'.
It is as simple as that. I have only to deal with the licencee, Union home secretary G.K. Pillai said.
